House panel subpoenas Justice Dept over bank prosecutions

11 May, 2015

House Financial Services Committee Chairman Hensarling sends the Justice Department and the U.S. Treasury Department subpoenas requesting documents that will help the panel understand whether banks might still be too big to fail and if this affects decisions to prosecute them criminally. The panel is also seeking information from both departments on whether the government retaliated against Standard & Poor’s for its 2011 decision to downgrade the government’s credit rating.

A spokesman for the Treasury department says they are cooperating with the House Committee, but sees the subpoenas as “unfortunate”